New Bank of England Governor

The incoming Governor of the Bank of England Mark Carney is setting out how he will act in his new role during a speech as the current Bank of Canada Governor.

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No 10: Carney 'has the right expertise'

The Prime Minister's spokesman has defended the decision to choose Canadian Mark Carney to be the next Governor of the Bank of England.

Asked whether any potential British candidates were tainted by the banking collapse of 2008, he said: "He (Mr Carney) has a very strong track record and the right expertise.

"He brings a wealth of experience."

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